Burlingame property owners will see their city's assessed value jump by roughly $1.15 billion in the 2026-27 fiscal year, one of the larger gains in San Mateo County and a reflection of continued real estate activity across the city.

San Mateo County Assessor Mark Church announced Monday, July 13, that the county's total assessed property value reached a record $357.6 billion for the new fiscal year. That figure represents growth of $16.6 billion, or 4.85%, over the prior year and marks the 16th consecutive year of increases countywide.

Burlingame's $1.15 billion portion of that growth puts the city among the top five in the county for dollar gains, according to the Patch AM newsletter's summary of the assessor's data. No full city-by-city breakdown has been published by the Assessor's Office.

"San Mateo County continues to demonstrate remarkable economic resilience and long-term stability," Church said in his announcement.

The assessment roll is the basis for property tax bills sent to every homeowner and business in the county. A higher assessed value means the city and its school districts stand to collect more property tax revenue in the coming year without raising rates.

Several factors drove the countywide increase, according to the Assessor's Office: inflation-adjusted Proposition 13 values, property transfers, new construction, and completed development projects. Residential properties remained the primary engine of growth, while commercial markets showed signs of stabilization after several years of post-pandemic adjustment.

The commercial stabilization noted countywide is relevant to Burlingame, which has substantial hotel and office properties along Bayshore Highway and retail along Burlingame Avenue. Church's announcement said the record roll came despite elevated mortgage rates and broader real estate headwinds.

Property tax bills based on the new assessment roll will be mailed to San Mateo County property owners in the fall.